SWS Partners Boosts Stake in Snowflake Inc. (NYSE:SNOW)

SWS Partners grew its stake in Snowflake Inc. (NYSE:SNOW) by 11.3% during the fourth quarter, HoldingsChannel reports. The fund owned 20,176 shares of the company’s stock after acquiring an additional 2,045 shares during the quarter. SWS Partners’ holdings in Snowflake were worth $3,115,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SNOW. Jennison Associates LLC lifted its position in Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after acquiring an additional 3,662,671 shares during the last quarter. Ontario Teachers Pension Plan Board increased its position in shares of Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after purchasing an additional 2,559,144 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Snowflake by 27.9% during the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after purchasing an additional 881,700 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Snowflake by 165.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 534,900 shares of the company’s stock worth $61,439,000 after purchasing an additional 333,500 shares in the last quarter. Finally, General Catalyst Group Management LLC purchased a new position in Snowflake during the 4th quarter worth $40,931,000. 65.10% of the stock is owned by institutional investors.

Snowflake Stock Performance

NYSE:SNOW opened at $173.81 on Tuesday. The company has a fifty day moving average of $173.43 and a two-hundred day moving average of $146.10. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The stock has a market capitalization of $57.37 billion, a PE ratio of -51.27 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total value of $2,700,000.00. Following the completion of the transaction, the executive vice president now directly owns 691,755 shares of the company’s stock, valued at approximately $124,515,900. This represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank Slootman sold 6,714 shares of Snowflake stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $171.00, for a total transaction of $1,148,094.00. Following the sale, the director now directly owns 196,454 shares in the company, valued at approximately $33,593,634. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 297,193 shares of company stock valued at $50,220,063. 7.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SNOW shares. Rosenblatt Securities increased their price target on Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Barclays lifted their target price on shares of Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Wedbush set a $210.00 price target on shares of Snowflake in a report on Wednesday, January 22nd. Oppenheimer boosted their price objective on shares of Snowflake from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Finally, Bank of America raised their target price on Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $202.92.

About Snowflake

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.